Rons Bantwal

Mumbai, Aug 3: "The bank has been growing steadily from 1916 to today. It has grown from a credit society now to a co-operative bank and on the verge of becoming a scheduled bank. A sign of healthy progress, a sign of collaboration and a good sense of purpose and direction given by the chairman and the board of directors. It has also been the employment provided to young people, just beginning their career and guiding them forward. And we do appreciate this service that you give to the community. Our chairman Albert D'Souza is not the founder of this bank, but a person who has carried forward the vision of the founders (and in so many other ways, together with his collaborators, has helped the community to move forward," said Archbishop John Rodrigues.

Archbishop John Rodrigues inaugurated the Mahim branch of the relocated Model Cooperative Bank Limited at St Michael Bhavan in Mahim here on Saturday, August 2 morning.

Model Bank's chairman Albert W D'Souza presided over the bank's inauguration programme. St Michael's Church parish priest Fr Gerald Richard Crasto was a chief guest.

Fr Richard said, "Albert came to me asking, father, the place is empty. Many wanted the place, but I think God wanted Albert, that is a corporate bank, to come here. Congratulations Albert. And we are very happy to have you. I have been with Albert for many, some projects. I think banking is one, education is one. He has one more dream, which many of you may not know. He has a dream, Archbishop, of starting a medical college in Bombay. That is his dream. I do hope he prays that Albert fulfills that dream. I wish the model corporate branch of money premises of the church."

Albert D'Souza said, "The bank has met all the regulatory requirements for the city, we are a financially sound and well-managed bank as per the RBI and ranked among the top 6% of the 1472 urban cooperative banks across the country. We have received numerous awards at the city, state and national level for our consistent performance. Our business mix stands at Rs. 1870 crores and is growing year on year. With zero net NPAs, we have continuously received A-plus grades at our (statutory audits. Our capital adequacy ratio is 15.82%, well above the 12% mandated by RBI. All these parameters indicate the good health of the bank which is built on firm foundations. I am proud of the fact that the bank is a source of employment and skill development to a young generation of our community. We appreciate the support and valuable feedback provided by the customers and well-wishers."

Director Vincent Mathias said that Model Bank has become a milestone in the cooperative sector by fulfilling the customer's vision, value trust and financial discipline. "The path taken by the model bank and the achievements of the cooperative arena show that the improved facility, re-dedication is a feature of the bank and has opened the door of opportunity for the financial business of the needy," he said. 

Directors of Bank Abraham C Lobo, Sanjay Shinde, Thomas Lobo, Lawrence D’Souza, Gerald Cardoza, Hilary Mendonca, Adv Fiona Nazareth, Asha D’Souza along with members of board of management CA Elroy Rodrigues, Jude Lobo and Sanna Lobo were also present. Branch manager Ashton D’Souza, Additional GM Zenon D’Cruz, assistant GMs Jude D’Silva, Naresh Thakur, Ratnakar Shetty and Henry Quadros, Sr Smita, Sr Juliana, Sr Erica, and former chairman of Christian Chamber of Commerce and Industries Henry Lobo, The Bombay Catholic Sabha Members Vinod Noronha, Rita Dsa, Bank's shareholders, customers, well-wishers, senior officials of the bank, heads of various branches and staff were present and wished the bank for its success.

Director of Bank CA Paul Nazareth was present on the dais. Fr Gerald Richard conducted prayer. Thomas D Lobo read the Bible. Roshni Monteiro welcomed and introduced the guests and compared the programme. Albert W D'Souza honored the guests with flowers. General manager and CEO Osden A Fonseca gave a vote of thanks.